SUNBIZ

Nabou Power Plant Closed

Fiji Pine Group Executive Chairman Faiz Khan referred all questions to Nabou Green Energy.
17 Apr 2019 17:51
Nabou Power Plant Closed
Nabou Green Energy Limited’s Biomass Power Plant.

Nabou Green Energy Limited’s big Bio- mass Power Plant operations have been closed since early December 2018.

The company’s present shareholders are Korean companies GIMCAO Company Limited, GS Power Company Limited and Mirae Asset Daewoo Limited.

The Fiji Sun understands Tropik Wood Industries Limited under the Fiji Pine Group of Companies had surrendered its free 25 per cent shares in November last year.

Fiji Pine Group Executive Chairman Faiz Khan referred all questions to Nabou Green Energy.

It is believed that when Fiji Pine Group of Companies pulled out, the other three shareholders closed the plant down to re-organise the company structure.

It has been confirmed that all employees of Nabou Green Energy, both those at the plant and those in the company’s head office at Namaka, were still at work and being paid.

However it could not be established when the power plant would restart its operations.

The 12 megawatt power plant is Fiji’s first major Independent Power Producer (IPP).

It producers renewable energy with that being sold back to Energy Fiji Limited (EFL).

Efforts to get comments from EFL were unsuccessful before this edition went to press. According to the Company’s information, Tropik Wood provided 5000 hectares of land for the construction and growing of the feedstock for the proposed biomass plant.

With all the uncertainty and risks, GIMCO decided to obtain funding from Korea.

It was at this stage GS Power and Mirae Asset Daewood came on board and invested financially. With the support of GS Power, Mirae

Asset Daewoo and Tropik Wood, Nabou Green Energy Limited was formed.

It was announced during the opening that the company had plans to build a similar plant in Sabeto, in Nadi.

The Nabou power output was potentially enough to cover the whole of Nadi and parts of Nadroga.

Company Chief Executive Officer Jun Hyung Lee was in Korea and company officials at Namaka did not wish to comment. The plant was opened in 2017.

Feedback: charles.chambers@fijisun.com.fj

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